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FORM 5500 DATA

Enercon Services, Inc. Employee Stock Ownership Plan

Overview

Plan Information

  • Plan Year01/01/2014 — 12/31/2014
  • Date of Plan01/01/1992
  • Net Assets as of 12/31/2014 $207,838,491
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2014

  • Active (Eligible) Participants1,020
  • Retired or separated participants receiving benefits37
  • Other retired or separated participants entitled to future benefits244
  • Subtotal1,301
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits5
  • Total1,306
  • Total number of participants as of 01/01/20141,294
  • Number of participants with account balances1,062
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested60

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address500 Townpark Lane
  • CityKennesaw
  • StateGA
  • Zip30144
  • Telephone(770) 919-1930
  • EIN73-1176079
  • Industry Code541330
  • Named AdministratorMelissa Dase
  • Named Plan SponsorMelissa Dase

Audit Information

  • Audit StatusAudited
  • AuditorCross and Robinson CPAS
  • Auditor EIN73-0965759
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2I Stock bonus A stock bonus plan is a type of profit-sharing by which a corporation uses its own stock to make contributions and distributions.
2P Leveraged ESOP An Employee Stock Ownership Plan (ESOP) that acquires employer securities with borrowed money or other debt-financing techniques.
2Q S Corporation ESOP The employer maintaining this Employee Stock Ownership Plan (ESOP) is an S Corporation.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).
3I Employer Securities Limitations Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $5,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $32,723,137
Contributions $15,168,700
Cash Contributions $15,168,700
Cash from Employers $15,168,700
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $17,554,437
Total Interest $1,669
Interest-Bearing Cash $1,669
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $337,386
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $17,349,292
Real Estate $0
Other $17,349,292
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $-65,166
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $-68,744
Other Income $0
Expenses $9,714,112
Total Benefit Payments $9,710,859
Directly to participants or beneficiaries, including direct rollovers $9,710,859
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $3,253
Total Administrative Expenses $0
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $23,009,025
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $1,765,145

Asset and Liability Statement

12/31/2014 12/31/2013 Change YOY
Total Assets $220,144,288 $192,633,217 14.28%
Total noninterest-bearing cash $1,000 $1,000 0.00%
Receivables $11,734,268 $9,986,224 17.50%
Employer Contributions $11,734,268 $9,486,224 23.70%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $500,000 -100.00%
General Investments $6,721,112 $5,587,677 20.28%
Interest-bearing cash $6,721,112 $5,587,677 20.28%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $18,100,415 $12,867,388 40.67%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $7,404,993 $5,195,728 42.52%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $176,182,500 $158,995,200 10.81%
Employer Securities $176,182,500 $158,995,200 10.81%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $12,305,797 $6,038,606 103.79%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $12,305,797 $6,038,606 103.79%
Net Assets $207,838,491 $186,594,611 11.39%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

Other Service Providers Receiving Direct or Indirect Compensation

There are no service providers listed for this plan.

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Prin Money Market Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $11,670,871
Prin Lgcap S&P 500 Index Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $2,724,973
Prin Lifetime 2030 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $2,105,930
Prin Lifetime Strat Inc Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $377,256
Prin Lifetime 2020 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $276,857
Prin Midcap Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $275,247
Prin Diversified Intl Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $229,895
Prin Lifetime 2050 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $136,906
Prin Lifetime 2010 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $96,257
Prin Lifetime 2045 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $91,751
Prin Lifetime 2040 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $55,878
Prin Lifetime 2015 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $30,391
Prin Lifetime 2035 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $11,761
Prin Largecap Growth II Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $10,240
Prin Lifetime 2060 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $6,202
Prin Smallcap Growth II Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Smallcap Value II Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Largecap Value I Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Midcap Growth III Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Intl Smallcap Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Govt & Hq Bond Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Midcap Value III Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Total $18,100,415

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 0
EIN 42-0127290
Industry Code 61271
Contract Number 709043
Contract Year 01/01/2014 — 12/31/2014
Value in General Account at Year End $0
Value in Separate Accounts at Year End $18,100,415
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0